An effect that has a "low chance" is pretty worthless I'd imagine, since the chance doesn't change. It's not like there is an instant death effect or anything, to which a low chance would still be effective. Also, "low damage" would be bad too. Speaking of which, it's hard to imagine how there is low/moderate/high damage, but at the same time, the amount you have of that effect determines its damage. So I guess if you have 50 of something, but it's defined as "low damage", I guess that means that 50 is more like 10, for instance; it's like a modifier of the amount you have I guess.

These descriptions of these effects (along with many other things) don't tell you much at all about exactly how much damage they do, or their duration/chance sometimes. You could have a sword that has 50 lightning damage, but for all we know, that's equal to about 5 DPS at a certain point in the game (which further complicates things). This game does a horrible horrible job at giving you anything more than a vague description. I mean how the hell did the game designers let descriptions like this get by: "Each time Anjali is hit, there is a 3% chance per rank that her attacker will suffer a burning over time effect." A "burning over time effect" means nothing in that wording. Nothing.

So with that said, unless it's one of the 2-3 stats that we know works good (like Vampire), or it's really obvious, just stick with the basic stats.